https://www.engineeringnews.co.za
Business|Construction|Efficiency|Energy|Flow|Industrial|Power|Projects|Solar|Technology|Flow|Power Generation|Power-generation|Solutions|Operations
Business|Construction|Efficiency|Energy|Flow|Industrial|Power|Projects|Solar|Technology|Flow|Power Generation|Power-generation|Solutions|Operations
business|construction|efficiency|energy|flow-company|industrial|power|projects|solar|technology|flow-industry-term|power-generation|power-generation-industry-term|solutions|operations

Globeleq acquires private power generation company in Nigeria

11th January 2021

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Independent power generation company Globeleq will take a 74% majority equity stake in an existing Nigerian power business CPGNL, which will be rebranded as Globeleq Power Solutions Nigeria.

The current owner of the business, the Clean Energy Group, will retain the remaining 26% stake in CPGNL.

CPGNL has a portfolio of assets that serves commercial and industrial customers mostly in the southwest of Nigeria. These include 12 operating plants with a total capacity of 58 MW, three plants under construction (9 MW total capacity), as well as about 100 MW of projects in development.

The local team's depth of knowledge will complement the existing expertise at Globeleq and provides an immediate operational presence in the country, Globeleq said in a statement issued on January 11.

"This investment demonstrates our commitment to look beyond the conventional generation methods and provide cleaner, more reliable electricity solutions directly to industries in the country. 

"This all helps to produce a flow of capital that supports jobs, improves lives and aids transformation of the economy,” said MD Fabio Borba.

Globeleq's entry is posited to provide additional investment to develop and grow the existing pipeline of projects, drive operational excellence and set the business up for a low-carbon future.

Upcoming technical improvements to the existing operations and implementing new technology will focus on efficiency and reducing the carbon footprint by displacing diesel and introducing solar generation elements.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.107 0.158s - 140pq - 2rq
Subscribe Now